GM sells its 7% stake in Peugeot Citroen


DETROIT — General Motors Co. is unloading its stake in French automaker PSA Peugeot Citroen.

GM said Thursday that it has sold its 7 percent stake of 24.8 million shares to institutional investors. GM didn’t disclose the sale price. It bought the stake in March, 2012, for $402 million when it announced a car-building alliance with PSA.

GM said in a statement that the alliance will continue.